PHOENIX, AZ - August 21, 2013 - Liberty Property Trust today announced that it has finalized a lease for the first new tenant since completing the renovation at Liberty Sky Harbor Center at 2626 S. 7th Street in Phoenix. Charter Towne, Inc. has leased 44,868 square feet of warehouse/distribution space and will move in September.

Liberty acquired this obsolete warehouse one year ago. In January of this year, the company embarked on a complete redevelopment of the property, transforming it into a 185,834 square foot Class A state-of-the-art cross-dock distribution center.

"Interest in the location was strong even before we completed the redevelopment of Liberty Sky Harbor Center just two months ago," said John DiVall, senior vice president & city manager, Liberty Property Trust. "We are very pleased that Charter Towne has selected Liberty Sky Harbor Center to grow its business, and we are looking forward to sharing our modern, accessible and spacious approach to this property with other companies that are seeking a 'step up' in the quality of their facilities."

Jerry McCormick of CBRE and Brad Stuck at Transwestern represented the tenant in the transaction.

Bob Crum of Ross Brown Partners in Scottsdale represented Liberty Property Trust.

More than 105,000 Square Feet Remain Available for Lease

Liberty Sky Harbor Center offers a cross-dock warehouse/distribution space with 67 dock doors, 360-degree truck access and more than eight acres of paved area for outside storage and trailer parking.

Sustainable approaches to the building included the re-use of 85% of existing structures on site, recycling of asphalt, concrete and steel demolished as part of the redevelopment, installation of upgraded radiant insulation with an R-30 value, and the use of low VOC paint.

Located south of Interstate 17 with convenient access to both the I-10 and US 202 Freeways, the complex is just minutes from Sky Harbor Airport. The property is within a short distance of another recently announced Liberty project, Liberty Center at Rio Salado, a sustainable mixed-use business park on 100 acres to be developed in conjunction with the City of Tempe.

About Liberty Property Trust

Liberty Property Trust (NYSE:LRY) is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior office and industrial properties. Liberty's 81 million square foot portfolio includes 662 properties which provide office, distribution and light manufacturing facilities to 1,700 tenants. information visit www.libertyproperty.com.  

General Inquiries: John DiVall, Liberty Property Trust, 602/808-3500

Robbie Tarpley Raffish, a.s.a.p.r., 443/944-9301


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